BJT readers—who represent one of the highest-net-worth magazine audiences anywhere—clearly have the means to contribute to a better world. To help you do that, we’re spotlighting one deserving organization per issue.

BJT readers–who represent one of the highest-net-worth magazine audiences anywhere–clearly have the means to contribute to a better world. But what’s the best way to do that? It’s not always easy to determine which charities are most reputable and efficient and which will make the best use of your donations. As such, we’ve decided to spotlight one deserving organization per issue.

ELSEWHERE IN THIS ISSUE, YOU'LL FIND PLENTY of discussion about the tangible and intangible benefits of using business aviation, but what about the expenses? Nobody ever said flying privately is cheap, but the good news is that it can be less costly than you might think-if you take steps to minimize expenses.

If the experts are right, business aviation insurance rates could be on the rise soon. A recent spate of accidents will inevitably drive rates higher for airlines, according to a report by insurance broker AON. Because business aviation insurance rates have traditionally tracked those for airlines fairly closely, price hikes are likely.

On a purchase-satisfaction scale of one to 10, aviation insurance fails to register even a one for most buyers. And no wonder. There's simply nothing sexy about buying a stack of papers that promise to pay for a loss you hope won't occur and which, in fact, is highly unlikely to ever happen.

When a company buys jet fuel for a business flight, the fuel will be consumed immediately. So the cost is tax deductible as an ordinary expense in the current period. Most expenses of owning and operating a business jet are like that-they can be deducted currently and thus offset taxes on current business income.

The cost of buying an aircraft is rivaled only by the expense of maintaining it. If someone gave me a Gulfstream G550 for Christmas, I'd have to sell it immediately because just the expense of hangaring and insuring the aircraft, let alone flying it, would far exceed what I can afford. No wonder many people want to figure out a way to share the cost of business jets.

After BJT quoted Long Island, N.Y. businessman Michael Pascucci's claim that his flights on his three aircraft are "free" based on the offset revenue he earns from their charter, we received feedback from readers questioning whether this is truly possible.

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Quote/Unquote

“"I've got a list of corporations that have gotten out of their airplanes [because of criticism from politicians]. It is the stupidest thing I've ever seen. When you look at the time and cost savings; it does not make sense not to fly [privately]. You can't let public perception interfere with your business decision to fly. It either is a good business decision or it isn't."”